Synodon Inc.
TSX VENTURE : SYD

Synodon Inc.

January 13, 2015 07:00 ET

Current Synodon Customer Renews realSens™ Contract for a 3-Year Term

EDMONTON, ALBERTA--(Marketwired - Jan. 13, 2015) - Synodon Inc. ("Synodon") (TSX VENTURE:SYD), announces that following an initial 1-Year service contract that concluded in December 2014, one of its United States based customers ("Customer") has re-signed a realSens™ pipeline integrity management services contract for a 3-Year term. This new contract requires quarterly (or bi-annual for some sections) survey flights for their Barnett shale gas gathering pipeline infrastructure. As was the case with the previous contract in 2014, other sections of the Customers' network could potentially be added to the contract in each one of the service years. The value of the 3-Year contract is roughly $1 million Cdn but could increase to more than $1.5 million Cdn with the potential additions.

"We are very pleased to receive this expanded, 3-Year order as a continuation on a successful initial contract and to continue to provide our Customer with integrity intelligence about their pipeline networks and facilities. We look forward to working with this prominent gas producer at addressing other integrity needs as well as expanding further into other territories as required over the coming months", stated Adrian Banica, CEO of Synodon Inc.

Synodon Inc. (www.synodon.com) is a technology company which has developed an advanced airborne remote gas sensing system called realSens™, based on technologies developed under the Canadian Space Program and by Synodon scientists. The company currently provides advanced airborne pipeline integrity management services to the oil and gas sector through a suite of services including natural gas and liquid hydrocarbon leak detection, pipeline threat assessments, and waterway crossings analysis among others.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Statements in this release that are forward-looking statements, including a potential increase to the contract value, are subject to various risks and uncertainties concerning the specific factors disclosed, under the heading "Risk Factors" and elsewhere, in the Corporation's periodic filings with Canadian securities regulators, which could cause actual results or events to differ materially from these indicated by such forward-looking statements. The Corporation believes that the expectations reflected in this news release are reasonable including the sales cycle which is expected in the future, based on past patterns, but actual results may be affected by a variety of variables and risks such as the individual circumstances of the Customer's business, any increase in competition, general economic conditions, as well as risks and variables associated in general with the Corporation's industry. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. Unless otherwise required by applicable securities laws, the Corporation does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, events, results, circumstances or otherwise.

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